Global Metal Recycling Market Poised for 6.01% CAGR Growth Through 2030

Written by nandini123 » Updated on: March 10th, 2025

Metal Recycling Market Poised for Significant Growth

The Metal Recycling Market valued at approximately US$65.16 billion in 2023, is projected to expand at a Compound Annual Growth Rate (CAGR) of 6.01% through the forecast period, reaching an estimated market size of US$98.04 billion by 2030. This growth is driven by increasing demand for metals across various industries, coupled with a heightened focus on resource conservation and greenhouse gas emission reduction.

Competitive Landscape

The metal recycling industry is characterized by several key players actively engaging in mergers and acquisitions to strengthen their market positions. Notable companies include ArcelorMittal, Sims Metal Management, Terex, Alcoa, Heraeus, and Tadweer Group. These organizations are implementing strategic initiatives to enhance their recycling capabilities and expand their global footprints.

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Regional Insights

United States: Consolidation and Expansion Trends

The U.S. metal recycling market has witnessed significant consolidation. In 2008, Sims Metal Management acquired Metal Management Inc., creating one of the world's leading publicly traded recycling companies.In 2024, Terex expanded its recycling operations by acquiring the Environmental Solutions Group (ESG) from Dover Corporation for $2 billion, enhancing its presence in the solid waste and recycling industries.

Asia Pacific: Growth Opportunities and Strategic Investments

The Asia Pacific region presents substantial growth opportunities in metal recycling, driven by rapid industrialization and urbanization. In 2024, Alcoa acquired Alumina Limited for $2.2 billion, gaining full ownership of the Alcoa World Alumina and Chemicals (AWAC) joint venture, thereby strengthening its position in the region. Additionally, Heraeus expanded its recycling capabilities by acquiring Perpetual Technologies, a PET recycling company, and forming a joint venture with BASF to recover precious metals from spent automotive catalysts in China.

Middle East and Africa: Emerging Trends and Initiatives

The Middle East and Africa are witnessing emerging trends in metal recycling, with a focus on sustainable waste management. Tadweer Group, based in Abu Dhabi, acquired Enviroserve in 2024, a processing hub specializing in electronic waste recycling, expanding its operations across the Middle East, Africa, and the Caucasus region.This acquisition aligns with regional initiatives to enhance recycling infrastructure and promote environmental sustainability.

Europe: Modernization and Strategic Partnerships

Europe's metal recycling market is undergoing modernization, with companies investing in advanced technologies and forming strategic partnerships. In 2022, Heraeus and BASF established a joint venture to recover precious metals from spent automotive catalysts, producing recycled precious metals for high-tech industries in China.This collaboration exemplifies Europe's commitment to circular economy principles and resource efficiency.

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Market Segmentation: In-Depth Analysis:

by Metal Type

Ferrous Metal

Non-Ferrous Metal

The market is divided into ferrous and non-ferrous metals according to the metal type. Throughout the predicted period, ferrous metal will hold a significant market share and dominate the industry. The majority of scrap metal scrapped globally is ferrous, and ferrous metal is generally more stain and rust resistant than non-ferrous metal.

by Scrap type

Old Scrap

New Scrap

The market is divided into two segments based on the type of scrap: new scrap and old scrap. Throughout the metal recycling forecast period, old scrap is anticipated to hold a significant market share and dominate the industry. Because it uses less energy and produces fewer greenhouse gas emissions than metal, old scrap is the most common sort of scrap.

by End User

Building & Construction

Automotive

Shipbuilding

Consumer Durables

Recycling

Industrial Machinery

Others

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Learn about the top players driving innovation in the Market :

1. ArcelorMittal

2. Nucor Corporation

3. Commercial Metals Company

4. SIMS Metal Management Limited

5. Aurubis AG

6. European Metal Recycling Limited

7. Tata Steel

8. Dowa Holdings Co., Ltd.

9. OmniSource Corporation

10. Schnitzer Steel Industries, Inc.

11. Baosteel Co. Ltd.

12. REMONDIS SE & Co. KG

13. Novelis Aluminum

14. Norton Aluminum Ltd

15. Kuusakoski

16. REAL ALLOY

17. Tom Martin & Co Ltd.

18. TMS International

19. PSC Metals

20. Mervis Industries

21. Upstate Metal Recycling

22. Cozzi Recycling

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